secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001174947-22-001164
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magyar Bancorp reports Q4 net income up 51% to $2.43M; FY EPS $1.17
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- Q4 net income $2.43M ($0.36 EPS) vs $1.61M ($0.23) year ago; FY net income $7.92M ($1.17 EPS) vs $6.12M ($1.01).
- Net interest margin expanded to 3.83% in Q4 from 3.57%; loan growth of 5.8% driven by commercial real estate up 22.1%.
- Non-performing loans fell to 0.45% of total loans from 1.37% year ago; allowance for loan losses at 297.5% of NPLs.
- Repurchased 352,697 shares at avg $12.90 under 5% buyback program; book value per share rose to $14.60 from $13.76.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722001164/0001174947-22-001164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722001164/form8k-28921_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-22-001164

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer